The escrow instructions, and this policy statement, including any amendments thereto, will constitute the sole and entire agreement between American Escrow Company and the parties thereto.
 

American Escrow Company reserves the right to refuse any contract for escrow which does not meet our specific requirements.
 

All amendments to the original escrow instructions must be made in writing, signed by all parties, notarized, delivered to and accepted by American Escrow Company.
 

American Escrow Company assumes no liability for the legal effectiveness of any escrowed documents and volunteers no opinion, nor makes any representation as to the title conveyed or received, rights of lien holders, or any other matter affecting the interests of the parties in and to the subject matter of escrow.
 

American Escrow Company will follow the fee schedule for any additional disbursement fees. This applies to payments, balloons and non-scheduled payments with more than one disbursement. American Escrow Company reserves the right to change this fee schedule from time to time after providing thirty (30) days written notice to all parties.
 

All payoffs, balloons, annual payments and any amount over a single payment must be made in CERTIFIED or TITLE COMPANY FUNDS. In the event a non-certified check is used, American Escrow Company will not disburse until funds are available through the banking institution from which the check is drawn, and all such payments will be posted as of date of receipt by American Escrow Company.
 

Unless otherwise agreed to in writing by all parties, American Escrow Company shall compute interest daily on the unpaid balance to the date the payment is received, and will commence interest as of the document date.
 

American Escrow Company shall be entitled to receive fees in accordance with its fee schedule, which is current as of the date the service is rendered. Unless otherwise agreed to in writing by the parties, American Escrow Company shall deduct its fees from monies received prior to any disbursements.
 

If any payment received by American Escrow Company in the form of a check or draft is dishonored for any reason by the drawee, American Escrow Company shall have the right to give written notice to the parties of its intent to delay further disbursements to ensure clearance of check or draft. After giving notice of aforesaid, American Escrow Company shall not be liable for late payment penalties, interest, default, forfeiture, attorney’s fees, costs or any other loss or damage to the parties whatever, resulting directly or indirectly from delay of disbursements in accordance with notice. There is a $30.00 or more service charge(s) on all returned checks. Reimbursement of NSF checks will be in certified funds or cash only. We will reserve the right to require the payor, at any time, to furnish us with certified funds for all subsequent payments until the end of the escrow period. If any payment received by American Escrow Company, in the form of a check or draft, is dishonored for any reason by drawee and American Escrow Company cannot recover funds from the maker, the recipient will be required to reimburse American Escrow Company for the amount of the dishonored check or draft plus escrow fees.
 

IRS regulations require American Escrow Company to collect Tax Identification Numbers (TINs) from payors and payees on Real Estate Contracts, Mortgages and other interest bearing instruments. Payor’s and Payee’s failure to provide American Escrow Company with correct names and TIN information will result in American Escrow Company charging payor or payee for each written request according to the current fee schedule. American Escrow Company may restrict customer service and/or withhold release of escrowed documents until correct name and TIN information has been collected.
 

If a contract requires American Escrow Company to impound a portion of the client’s monthly payment for the payment of taxes and/or insurance, American Escrow Company must have the annual tax bill and/or insurance premium notice for these payments to be made. It is the responsibility of the parties to contact buyer and/or seller, to see that the tax notice and/or insurance premium notices are delivered to American Escrow Company, prior to their due dates, to insure payment of these obligations. Failure to provide these notices in a timely manner may result in penalties or policy cancellation for which American Escrow Company cannot be held responsible.
 

American Escrow Company will have the right to resign as Escrow Agent by giving thirty (30) days notice to the parties involved of its intent to withdraw. The parties involved will thereupon jointly select a successor Escrow Agent and give American Escrow Company written notice of such selection. If, for any reason, the parties fail to jointly select a successor Escrow Agent, then American Escrow Company may select the successor Escrow Agent. American Escrow Company will surrender all of its documents and funds, deducting from them its charges and expenses, to the successor Escrow Agent, therefore relieving American Escrow Company of all further liability and responsibility.
 

American Escrow Company shall not be responsible for any late payment or penalties caused by insufficient funds, mailing delays, or late receipt of payments to American Escrow Company.

a. If a late charge date lands on a weekend or a holiday, the purchaser must arrive before close of business the day before said weekend or holiday in order to avoid a late charge.

b. Demands letters and payments are time sensitive. American Escrow Company will honor whichever is received first.
 

Any payment that is short may be returned. It may be processed with a letter to the purchaser of shortage; if shortage continues after written notice, payments will be returned. This does not apply to Wrap Real Estate Contracts.
 

American Escrow Company reserves the right to assess additional fees on any account with excessive activity or special services not covered by American Escrow Company fee schedule. American Escrow Company reserves the right to amend its stated policy and any such change will become effective as to all accounts, unless otherwise stated, upon the giving of written notice to the parties.
 

Automatic withdrawal is a service that allows the client to choose a set day for automatic payments to be drawn each month from the client’s account. An American Escrow Company automatic withdrawal form must be completed, signed and returned with a voided check to American Escrow Company to start the service. Automatic withdrawal payments are ACH transactions that must comply with applicable law. If the client's selected payment date lands on a Saturday, the payment will be processed the Friday before. If the client's selected payment date lands on a Sunday or a federal holiday, the payment will be processed the following business day. Cancellation of this service must be made in writing at least ten (10) business days prior to the next scheduled payment date.
 

All funds received hereunder shall be deposited into an American Escrow trust account, which may be an interest-bearing account. All interest earned therefrom may be retained by American Escrow as and for additional consideration for account servicing.